Gold Prices Fall Nearly 3% As Fed Hike Expectations Rise

Gold became cheaper by almost 3% during the week.

Investors were watching new information about the US economy.

Strong jobs data made some investors think the Federal Reserve might raise interest rates.

Higher interest rates can make gold less attractive to investors.

The stronger US dollar and higher Treasury yields also pressured gold prices.

Rising crude oil prices increased worries about inflation.

Gold briefly recovered after weaker jobs data and softer comments from the Federal Reserve.

However, stronger employment data later pushed prices down again.

Analysts identified price levels where gold may face resistance or find support.